Contrarian Indicators for Facebook Abound

Before Facebook’s stock broke out, I wrote this post noting the potential upside breakout and buy volume hints.

Facebook has indeed broken out, and an infographic such as the one below is typical of sentiment towards the overall thesis that Facebook is on the decline. I am starting to warm up to the other side of that trade–I think Facebook may have more fuel left in the growth tank that many realize. When this many are sour on Facebook and think it is a foregone conclusion it will become the next Friendster, I can reticent to embrace the idea as well.